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Explore Global Human Recombinant Insulin Market – Size, Share, Growth, Demand, Analysis and Forecast to 2024
Human Recombinant Insulin Market
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The various types of products offered in the market are rapid-acting, long-acting, short-acting, premixed, and intermediate-acting. Of all product type, long-acting human insulin segment is expected to grow at the fastest rate in the market due to advanced competence and capability to pose constant insulin delivery during the day.
Mounting number of diabetic patients, promising medical reimbursement setup in developed countries, escalating risk factors leading to diabetes, intensifying market availability of generic human insulin products and mounting need for human insulin analogs are the primary growth drivers for human recombinant insulin market.
Mounting government schemes to support the expansion and commercialization of efficient biosimilars are also driving the growth of the market. For instance, several government and private research organizations are involved in R&D activities for evolving innovative treatment in diabetes care to upsurge the efficacy of human insulin, decrease diabetes affliction, and diminish the threat of diabetes related disorders.
Globally, the manufacturing companies trying to enter the human recombinant insulin market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.
Geographically, North America is the largest human recombinant insulin market as in the region the number of diabetic patients is increasing. Asia-Pacific is observed to witness fastest growth in the market, due to mounting number of diabetic patients. In addition, mounting healthcare expenditure, developing regulatory skeleton for promoting approvals & medical repayments, reinforcing distribution networks of product manufacturers and expanding awareness about diabetes are also creating a positive impact on the human recombinant insulin market growth in the region.
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Key players in the human recombinant insulin market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In August 2018, Novo Nordisk A/S acquired Ziylo, to accelerate development of glucose-responsive insulin for therapeutic and diagnostic applications. Novo Nordisk A/S, Biocon Limited, Sanofi S.A., Wanbang Biopharmaceuticals Co., Ltd., Bioton S.A., Eli Lilly and Company, Zhuhai United Laboratories Co., Ltd., Julphar Gulf Pharmaceutical Industries, Dongbao Enterprise Group Co., Ltd, and Gan & Lee Pharmaceuticals, Ltd. are the key players offering human recombinant insulin products.
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